Zen and the business plan
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Transcript of Zen and the business plan
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Zen and the Business Plan
presented by
Scott Miller
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Do you need a 50 page business
plan?
•"Rip it Out" Video
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Why be Brief?
•Investors don’t read a long plan
•Hard to keep a long plan, current
•Poor tool for having a “conversation”
•Banks like them....but banks don’t like us
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Why be Brief?
•A long plan does not guarantee success
•Most of you will go with “Plan B”
•Writing the plan should be joyous!
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Why write a plan?
•Document our “Hypothesi”
•Speculate about the future
•Ground our assertions
•** Form a basis for a “conversation”, with investors, partners, employees, spouses
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The Business Plan as a “living document”
•To be updated as we learn more
•Out with the old hypothesis, in with the new! Plan B.
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Our plan should be
•A pleasure to write
•Easy and FAST to read
•Easy to update
•Easy to share
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The “One Pager Plus”
•Economy of language
•Forces us to be “clear”
•Conversations are efficient and quick to start
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•One Line Pitch
• Leaves them wanting more
•Business Summary
•Team
•Customer Problem
•Product / Service
Class shares........
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•Target Market
•Sales / Marketing Strategy
•Business Model
•Competitors
•Competitive Advantage
Class shares........
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Financials
•Many entrepreneurs suffer here
•Start simple
•Detail and form is business dependent
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Financials Year 1 Year 2 Year 3
Customers
Revenues
Avg. Sell Price
Website, LLC
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Financials Year 1 Year 2 Year 3
Revenues
Gross Profit
Net Profit
Service & Products, LLC
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“Plus”
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Competitive MatrixCincinnati Hamburgers
Convenience
* You determine the competitive axis
Taste
Terry’s
FlippDaddy’s
McDonald’s
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Cash Flow Projection
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Sales / Marketing Plan
•Calculate your Total Addressable Market (TAM)
•Customer Acquisition Cost (CAC)
•Lifetime Customer Value (LCV)
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Customer Portrait
•Who are they?
•What is their problem?
•What are their aspirations?
•IAMS example
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Team
•If you don’t have a lot to say, don’t.
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Intellectual Property (IP)
•Don’t disclose too much. A bit of mystery is good.
•Your plan may fall into enemy hands!
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Go for it!